Sonae IM invests in Nextail, that has raised $10M to empower retailers with smart inventory decisions

27

Jun

by:Miguel Bagulho

Nextail, the fast-growing tech company that
brings artificial intelligence into retailers’ inventory planning and
merchandising decisions, has today announced that it has closed $10M in new
funding.

The Series A round was led by London and Amsterdam based venture capital
firm KEEN Venture Partners LLP ("KEEN”), together with Sonae Investment
Management ("Sonae IM”) and existing investor Nauta Capital. The new financing
is being used to accelerate product development and double the size of the
team, as it grows internationally.

Founded by Joaquín Villalba and Carlos
Miragall in 2014, Nextail has developed a cloud-based platform that combines
artificial intelligence and prescriptive analytics to upgrade retailers’
inventory management processes and store operations.

Nextail provides retailers
with data-driven decisions and the operational excellence of fast fashion,
transforming how they buy new collections and distribute products. Nextail’s
clients are leading fashion and collection-based retailers including Pepe Jeans,
Stefanel and Melon Fashion Group. Clients typically see value delivered within
30 days, from sales increasing between 5-10%, in-store stock coverage reduced
by 30% and stockouts reduced by 60%.

"Agile and data-driven decisions help
organisations meet customer demands. At Nextail, we deliver smart automated
decisions, powered by the analytical principles that the leading digital
players use” said Joaquín Villalba, CEO and Co-Founder of Nextail and former
Head of European Operations at Inditex (Zara). "We help our clients with
smarter use of inventory, so that they can focus on delivering better products
and experiences to their customers” added Joaquín.

"This round is a significant stepping
stone for us. In addition to the extra backing from Nauta Capital, we’re
excited to have received funding from KEEN and Sonae IM. Their belief in our
technology and scale up potential will enable us to truly drive global
expansion, as we support brands in new geographies, specifically the US and the
UK”, said Carlos Miragall, CFO and Co-Founder of Nextail.

"Retail
is one of the sectors of the economy with the highest potential for AI impact.
Retailers are used to establishing partnerships through their value chain. We
believe now is the time for them to partner with specialised AI providers for the
right decision-making tools”
said Alexander Ribbink, General Partner at KEEN.

"We
were impressed by the complementary experience and execution drive of Nextail’s
team. Their first-class platform is a revolutionary solution to address a
retail core opportunity, advanced inventory management decisions. We believe
Nextail is well positioned to disrupt this market and become a leading player”
said Eduardo Piedade, Board Member at Sonae IM.